The Meaning of Decentralization

London, Herbert

doi:10.1080/00220973.1943.11019391

Cited by 17 publications

(15 citation statements)

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“…Ever since Satoshi Nakamoto published the paper "Bitcoin: A Peer-to-Peer Electronic Cash System" in 2008 where he presents a revolutionary peer-to-peer version of electronic cash that allows for online payments to be executed between parties without the intervention of an intermediary, there have been a multitude of developments and definitions on what decentralized ledger technologies represent (Nakamoto, 2008). The basic interpretation is that distributed ledgers are databases that are held and updated by each node/participant in the network, lacking thus the central authority and requiring consensus for the update of the network with each node having a copy of the ledger (Buterin, 2017).…”

Section: What Is Blockchain and How Does Tokenization Work?mentioning

confidence: 99%

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Fractional Vehicle Ownership and Revenue Generation Through Blockchain Asset Tokenization

Vitelaru

Persia²

2023

Transport and Telecommunication Journal

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The automotive industry is on a continuous transition towards a more sustainable and integrated ecosystem influenced by the fast-paced adoption of Electrical Vehicles (EVs) and the developments of emerging technologies such as Automated Vehicles (AVs). The road transportation sector is also experimenting with the emergent decentralized blockchain technology in various ways ranging from supply chain transparency to insurance and tokenization. Some of the recent use cases are the use of Non-Fungible Tokens (NFTs), unique digital assets designed to be immutable, to certify ownership of a vehicle, the data history of it or just for fan base development. The current paper reviews the literature findings concerning the potential of Non-Fungible Tokens for the automotive industry and proposes a new car ownership and revenue generation model using the ERC-1155 token standard. Our proof-of-concept based on fractional vehicle ownership demonstrates the feasibility of such a model that allows for revenue distribution amongst the vehicle owners according to the percentile invested in the vehicle acquisition.

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Section: What Is Blockchain and How Does Tokenization Work?mentioning

confidence: 99%

“…One simple heuristic is: if you cut the system into half, including both providers and users, will both halves continue to fully operate as independent units?" (Buterin, 2017). Decentralization is essential for blockchain, guaranteeing its optimal functioning outside of any central authority control.…”

Section: What Is Blockchain and How Does Tokenization Work?mentioning

confidence: 99%

Fractional Vehicle Ownership and Revenue Generation Through Blockchain Asset Tokenization

Vitelaru

Persia²

2023

Transport and Telecommunication Journal

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“…However, while this binary delineation of centralized and decentralized attestations can be useful, it fails to categorize attestations accurately, as they generally exist on a spectrum between centralization and decentralization. Some digital identity attestations are more centralized in certain dimensions (e.g., architecturally, politically, and logically) than others, and there are situational advantages and disadvantages to different forms of attestation across this spectrum [17]. While government-issued identity can be efficient, for instance, it lacks the robustness and resilience of an attestation that is predicated on independent recommendations from multiple high-trust individuals or groups.…”

Section: IIImentioning

confidence: 99%

AI and Democracy's Digital Identity Crisis

Jain,

Spelliscy,

Vance-Law

et al. 2023

SSRN Journal

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“…Here, decentralization is presented as a response to the latent issues of centralized systems, to which decentralized systems can introduce fault tolerance and deter attacks or collusion. In a later publication [42], Buterin suggested that decentralization be viewed across several dimensions: (1) An architectural dimension as in how many computers the system is made up of; (2) a political dimension as in how many controls those computers; and (3) a logical dimension as in how the interface and data structures add up.…”

Section: Arriving At a Working Definition For Decentralizationmentioning

confidence: 99%

When is a DAO Decentralized?

Henrik

Jensen

Ross

2022

CSIMQ

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While previously a nascent theoretical construct, decentralized autonomous organizations (DAO) have grown rapidly in recent years. DAOs typically emerge around the management of decentralized financial applications (DeFi) and thus benefit from the rapid growth of innovation in this sector. In response, global regulators increasingly voice the intent to regulate these activities. This may impose an excessive compliance burden on DAOs, unless they are deemed sufficiently decentralized to be regulated. Yet, decentralization is an abstract concept with scarce legal precedence. We investigate dimensions of decentralization through thematic analysis, combining extant literature with a series of expert interviews. We propose a definition of “sufficient decentralization” and present a general framework for the assessment of decentralization. We derive five dimensions for the assessment of decentralization in DAOs: Token-weighted voting, Infrastructure, Governance, Escalation and Reputation (TIGER). We present a discretionary sample application of the framework and five propositions on the future regulation and supervision of DAOs. We contribute new practical insights on the topic of compliance and decentralized organizations to the growing discourse on the application of blockchain technology in information systems (IS) and management disciplines.

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The Meaning of Decentralization

Cited by 17 publications

References 0 publications

Fractional Vehicle Ownership and Revenue Generation Through Blockchain Asset Tokenization

Fractional Vehicle Ownership and Revenue Generation Through Blockchain Asset Tokenization

AI and Democracy's Digital Identity Crisis

When is a DAO Decentralized?

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